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Indicate how each of the items listed would be handled when preparing a bank reconciliation as at June 30, 2021. Outstanding checks from the current
Indicate how each of the items listed would be handled when preparing a bank reconciliation as at June 30, 2021.
Outstanding checks from the current month amounted to $100 | Answer 1Choose...Deduct from cash balance per bankDeduct from cash balance per booksAdd to cash balance per booksDoes not affect the bank reconciliationAdd to cash balance per bank |
Cheque #390 for $520 was correctly written and paid by the bank but incorrectly entered in the general journal for $250. | Answer 2Choose...Deduct from cash balance per bankDeduct from cash balance per booksAdd to cash balance per booksDoes not affect the bank reconciliationAdd to cash balance per bank |
Bank debit memorandum for service charges | Answer 3Choose...Deduct from cash balance per bankDeduct from cash balance per booksAdd to cash balance per booksDoes not affect the bank reconciliationAdd to cash balance per bank |
Bank error in recording a company cheque made out for $160 as $610 | Answer 4Choose...Deduct from cash balance per bankDeduct from cash balance per booksAdd to cash balance per booksDoes not affect the bank reconciliationAdd to cash balance per bank |
An EFT of $560 was received from a customer in payment for their amounts owed. |
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